Investor John Pfeffer: «bitcoin is the first viable alternative to gold»

Speaking at the event Sohn Investment Conference on Monday, April 23, John Pfeffer (Pfeffer John), a serial entrepreneur and investor, currently a partner Pfeffer Capital, said that the bitcoin is the first viable replacement of gold. In his statement, John Pfeffer said that he expects growth of bitcoin prices at least to $90 000 or «much higher». At the time of publication, the cryptocurrency was trading at $9 456 showing the growth of 2.44% in the last 24 hours.

In addition, Pfeffer noted that bitcoin is «better gold.» Decentralization, as well as resistance to censorship, according to Pfeffer, are the basic pillars of dominance of bitcoin. He also noticed that the most popular cryptocurrency «is much easier to store and transfer than gold.» Pfeffer said that «if 25% of foreign reserves will be replaced by bitcoins, the total value of the cryptocurrency network will reach 6.4 trillion dollars.»

While the statements of Pfeffer, of course, to say the least bold, he was not the first who hinted that bitcoin could eventually replace gold. At the end of 2017, the famous twins the Winklevosses asserted that «bitcoin equal to gold or even better than him.» They also said:

«We believe that bitcoin is destroying the gold. We believe this is the best gold if you look at the properties of money. And what makes gold gold? A limited number of. The number of bitcoins is also limited… it is more portable, interchangeable, it is more durable. It is better than gold in all directions».

It should be noted that Pfeffer and the Winklevosses talking only about bitcoin, separating it from other cryptocurrencies. At the conference, Pfeffer said that «in the majority of scriptaction not worth it to invest».

 

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